Ethical ad group Good-Loop raises £1.2m for US growth
Founders: Amy Williams and Daniel Winterstein
Ethical video start-up Good-Loop has secured a £1.23 million investment from brand tech group You & Mrs Jones founded by former Havas chief executive David Jones.
Edinburgh-based Good-Loop will invest the funds into growing its commercial team in Europe and the US. It plans a Series A funding round in the first quarter of 2021.
Its technology helps advertisers use programmatic technology. The platform rewards online ad viewers by donating on their behalf to a chosen charity.
Half of the media spend for these ads goes to the charities, as long as the viewers watched a 30-second ad for at least 15 seconds. Rose Street-based Good-Loop says video performance and ad recall is boosted by up to 45%.
Good-Loop’s client list includes Amazon, Coca-Cola, H&M, Nestlé and Unilever. Nestlé chose Good-Loop for its KitKat Sustainability Project in 2017.
Amy Williams, co-founder and chief executive of Good-Loop, said: “Bringing You & Mr Jones and our other investors into the business at this stage will add a huge amount of value above and beyond cash as we prepare to scale up our operations.
“With industry luminaries like David Jones supporting us, we’ll be well-positioned to deliver innovative marketing technology, industry-leading social insight and truly impactful brand purpose.”
Ms Williams setup the business in 2016 with Daniel Winterstein and have raised more than £500,000 for charities and is on track to hit its target of £2m by 2021.
Other investors in the round included New York-based Quaestus Capital Management, SIS Ventures, marketing technology angel group Galvanise Capital and the Scottish Investment Bank, the investment arm of Scottish Enterprise.